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You can buy through local broker. No need to go Etrade.
How to buy US market? Are you using Etrade account? Wow, very sophisticated. How to open?
left_bug ( Date: 18-Sep-2008 00:51) Posted:
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Queue at 1 dollar for 1000 shares. If got, hopefully, in four years time, I can sell it at 52 dollars. Ha. This is AIG, a must save company, but I wonder can FED keep this up.
This is not a blanket statement.
However, I am sure correct to say personal insurance now is no longer ranked safer than unit trusts, stocks and currencies. Agree?
Personally, in my current condition and portfolio, my best route is to liqudate all assets possible to cushion my unstable income (because of unemployment and possible high inflation and stagflation in the coming years) and trade Indices CFD for a livelihood with my good skill. I have to say my skill is good and tested or else I would not risk my savings on trading for livelihood. Please don't follow my example blindly.
If u are employed and have easy cash flow every month, there is no compelling reason to surrender the policies. They are good saving alternative you will appreciate in the future crisis.
Pandan ( Date: 17-Sep-2008 16:03) Posted:
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Oil prices is down (Short term) so is commodities oso short term, mean, meanwhile ppl's can't even pay for their losses, some lost in million of dollars (retailler oni..not those instituties fund BBs).
Pandan ( Date: 17-Sep-2008 17:51) Posted:
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I am not hinting any trick by your agent. We are now in the global storm, we have to see the big picture to understand.
For the equity market to recover in the medium term wise, I think there must be a new fundamental impetus inject into the market. This could be the growth engine of Asia or the recovery of commodity sentiment.
Since AIG is saved for now. Take your time to think about it.
And make a decision that you think is the best. Don't have to panic and head for Raffles Place immediately.
Good Luck!!
Dun worry, our hard earned money is backed by MA$.
Thks all guys for ur opinion. I din want to call my agant as i felt cheated by him. I told him to on hold my cheque while doing my hse renovation, but he banked in without my knowlege. Realised after receiving bank statement. Tot of cancelled a few months earlier. But eventually continue to service as i would receive zero $$. (the purpose of buying them as a form of saving for my children uni) Now, some of my frenz advised me to terminate them as if AIG bankrupt, i would not get any $$ or even after 3 years, i would not be able to get back what i have pay out. And more important, market may not fully recover even after 10 years. How ur guys think?? Thks.
Wah!! touch wood ah, better beware of fire loh, as AK hv home fire protection policy with AIG. Claim fr US FBR, he he, chialat ah.
On the same token,if the bank goes bankrupt,it does not mean ur housing loan need not be repaid to the adminstrator of the bank.hahaha
HLJHLJ ( Date: 17-Sep-2008 15:59) Posted:
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Wah,like that dunno my great eastern life is safe or not.
Rebecca Leong,
Because I suppose u are same dialect with me, I state my opinion here to let u know:
This episode is very rare that insurance company supposedly to be risk averse institution is now in question. If it is hedge fund company is not a surprise but not any insurance company.I am going to terminate my policies with all insurance companies, I have 3 policies with AIA and Manulife all expiring around 2018.
This is a very valid sign. I have to control my self not to divulge my speculation.
I think the avenue of CPF money is sufficed for my later years expenses purpose. Other than that, I trade Index CFD for livlihood.
I think if AIG goes bankrupt, the policy holder might have to return the loan as he is not a bankrupt. The creditors can act on the behalf of AIG to get back the money to pay themselves. So be careful, if not loss after loss.
Just my opinion only. I'm not a lawyer. Have to consult any lawyer here to confirm.
ruanlai ( Date: 17-Sep-2008 14:12) Posted:
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MAS and Mr Tan Kim Lian has already said a many things.
For 11 mths case, usually surrender also zero.
If I am AIA, surrender ? OK. But need 2 weeks to process. You probably become a unsecured debtor than a policy holder.......R U still protected by the insurance act ??
Why don't you talk to your agent and ask for a very very frank assessment ? Personally, my family members are also policy holders.....there is no panic at home.
I heard about this 2~3 month ago. My family would have cash out already if we have no confident in our system. And Tan Kim Lian is really a OK adviser...
Just my opinion ONLY......It is your money, you call.....
Hi, need advise from ur people here, Just bought 2 life cum investment policies for my children last year. (Have serve 11 months) What should i do? Continue or terminate? Thks.
AK_Francis ( Date: 17-Sep-2008 15:04) Posted:
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ha ha, everywhere, including kopitiam talking about AIG kamtiam liao, see liao. how?
they came to me, I told them, if u dun trust MAS but at least must believe the uncle always sitting beside lau dee loh. hee hee.
Some broker advice not to surrender the policy instead go and borrow money from the policy for one year and see how is the situation.
1. If AIG go bankrupt, loan will be something in returns better than nothing.
2. If AIG is okie one year later, just return the loan amount plus interest.
3. Loan is not surrender, so still cover any incident happen by AIG or AIA.
BUT, if whole world everybody go and borrow money from their policy .......I think tomorrow AIG will go bankrupt even got $85b backing.....
I heard of what an AIA policy owner did. He didn't want to terminate his whole-life policy because of his old age and poor current health conditions; (meaning he will not be able to buy another life insurance). He still needs the life insurance coverage as his kids are still studying in uni.
So he took out a loan based on about 80 - 90 % of the surrender cash value of the insurance policy.
This way, he still owns the insurance policy AND now has a large portion of the surrender cash value safely in his pocket.
In the worst case scenario, ( if company close down) he has already collected most of the cash value of the policy; losing only a small proportion.
If and when everything is back to normal, then he just need to return the loan plus a small amount of pro-rated interest (about 8% pa); a small price to pay to hedge against complete loss of the all its surrender cash value
Just sharing an idea.
Regret is the word and lose money loh. Those q and asking questions were the smarter ppl. They hold the cow, they are laughing today.
Moral of the story is MAS steadly lah, accm by minister guarantee.
If one go, still hv 999 to come.
Washington Mutual?? Now, musical chair is at EU turn liao. UBS tumbled. Nothing heard fr LD yet.
Next GST rebate and WISS are in cold water liao.